DCCC Member Greenland Resources Inc., has received the prestigious 2023 Prospector and Developer of the Year Award for their Malmbjerg Molybdenum Project, which exemplifies environmental and social responsibility in Greenland.
The project, which aligns with the EU’s green energy initiatives, aims to supply a significant portion of the EU’s molybdenum needs without local extraction, thereby supporting both local communities and the European Green Deal. Greenland Resources is focused on sustainable mining practices and is backed by the European Raw Materials Alliance, demonstrating their commitment to responsible resource development.
The award was presented to the Company by Ms. Naaja H. Nathanielsen, Greenland Minister of Business, Trade, Mineral Resources, Justice and Gender Equality at the Prospectors and Developers Association of Canada (PDAC) 2024 Convention, the premier global mineral exploration and mining event held in Toronto, Canada.
Minister Nathanielsen said: “Last November, in Brussels the Government of Greenland signed an MOU with the European Union (EU). The MOU’s intention is to catalyze investment in Greenland and secure sustainable raw materials value chains. Molybdenum plays an important role in the EU green energy transition and the award-winning Malmbjerg Molybdenum Project is a good example of the secure value chain from Greenland to the EU and is supported by the European Raw Materials Alliance.”
Chairman Dr. Ruben Shiffman said, “We are honoured to receive this prestigious award recognizing our years of hard work and commitment. The Project is ad hoc for the EU-Greenland strategic partnership on sustainable raw materials. Can supply a quarter of the EU consumption from a responsible source and received strong interest for long term offtakes from the EU metallurgical steel and chemical industries. The EU remains the second largest user of molybdenum worldwide and despite having a very large processing capacity and leading the world on the production of specialty products that require molybdenum, has no molybdenum extraction. The Project will respect the environment, benefit the local communities and has the potential to make a significant economic contribution to the Country and the EU Green Deal.”
Press Release TORONTO--(BUSINESS WIRE)-- March 05, 2024 09:56 AM Eastern Standard Time
Greenland Resources is listed in the stock exchange CBOE Canada under the ticker symbol MOLY and in the Frankfurt stock exchange under the ticker symbol M0LY.
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